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Albert Togut
Togut, Segal & Segal LLP · USA
Togut, Segal & Segal LLP
Bankruptcy · USA
A highly respected “dean” of the bankruptcy bar and one of the most accomplished restructuring attorneys of our time, Albert Togut has, for the past 45 years, specialised in bankruptcy law to the exclusion of all other areas of practice. His deal list speaks for itself; Mr Togut has had a central role in the most famous reorganisation cases in history.
Since Mr Togut founded Togut, Segal & Segal LLP in 1980, he has served as counsel to the debtor, official committee or principal owner in some of the largest and highest profile Chapter 11 cases, including LATAM Airlines, McClatchy Newspapers, Pacific Drilling, Westinghouse, American Airlines, Kodak, Lehman Brothers Aurora, General Motors, Chrysler Automotive and Enron.
In addition, Mr Togut was lead counsel to Toshiba Nuclear Energy (UK) Holdings, the parent of the international operations of Westinghouse; Aurora, a mortgage origination company and subsidiary of Lehman Brothers; Rockefeller Center Properties; as well as Olympia & York Tower B Company, better known as the World Financial Center, which involved a $1 billion restructuring of a 43-storey commercial office building located at Two World Financial Center at Battery Park in Manhattan.
Since 1981, Mr Togut has been an active member of the trustee panel maintained by the Department of Justice in the Southern District of New York, and has served as trustee in several thousand bankruptcy cases under Chapter 11 and Chapter 7 of the Bankruptcy Code, including Refco, LLC (registered commodities broker), which at $4 billion, is the largest Chapter 7 case in the history of bankruptcy.
He is a Fellow of the American College of Bankruptcy, a Fellow of the International Insolvency institute, Co-chair of the Commission of the American Bankruptcy Institute (“ABI”) that studied the reform of Chapter 11, as well as past Officer and ABI Director and Chair of its New York City programme. Meanwhile, he served on the ABI’s fee-study commission, which studied professional fees in Chapter 11 business bankruptcy cases. The ABI’s fee commission’s report provides the most comprehensive, independent look at professional fees in Chapter 11 cases to date.
During a panel discussion hosted by ABI, the Honorable Shelley Chapman described Mr Togut as “beloved among bankruptcy professionals here in New York and across the country”, and “one of the deans of the bankruptcy bar”. For six years, Mr Togut chaired a Task Force of the Business
Bankruptcy Committee of the American Bar Association Section of Business Law that analysed disclosure statement requirements and confirmation practices in Chapter 11 cases. He has written and lectured on many topics under the former Bankruptcy Act and current Bankruptcy Code, and has particular expertise in conflicts of interest and ethics. He recently received the prestigious Who’s Who Albert Nelson Marquis Lifetime Achievement Award for his prominence in bankruptcy law.
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